AN ORDINANCE
NO ___________
An Ordinance providing for Government funding of a Death Benefit Escrow for the
fiscal year beginning July 1, 2012:
--------------------------------------------------------------------------------
-------
WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia
provided a Death Benefit Escrow Fund for employees; and
WHEREAS, Actuarial Consultants have evaluated the Death Benefit Escrow Plan and
the investment return of 7% annum thus determined that the amount of $276,199
is required to fund the Plan for fiscal year beginning July 1, 2012. The
amount to be prorated among the Consolidated Government of Columbus, Georgia,
the Columbus Board of Water Commissioners, the Hospital Authority of Columbus,
and the Columbus Airport Commission based on actual earnings of the active
participants in the Plan for the previous fiscal year is as follows:
Consolidated Government, 83.144% or $229,642; Columbus Board of Water
Commissioners, 9.228% or $25,488, Hospital Authority of Columbus, 6.543% or
$18,073 and Columbus Airport Commission, 1.085% or $2,996.
NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY ORDAINS:
That the following named agencies shall make the following contributions for
fiscal year 2013 to the Finance Director of the Consolidated Government as
their prorated share of the cost of the Death Benefit Escrow Fund by July 15th:
Consolidated Government $ 229,642
Columbus Board of Water Commissioners $
25,488
Hospital Authority of Columbus $ 18,073
Columbus Airport Commission $ 2,996
--------------------------------------------------------------------------------
------
Introduced at a special meeting of the Council of Columbus, Georgia, held the
19th day of June, 2012; introduced a second time at a regular meeting of said
Council held on the 26th day of June, 2012, and adopted at said meeting by the
affirmative vote of _____ members of said Council.
Councilor Allen Voting __________
Councilor Baker Voting __________
Councilor Barnes Voting __________
Councilor Davis Voting __________
Councilor Henderson Voting __________
Councilor Huff Voting __________
Councilor McDaniel Voting __________
Councilor Thomas Voting __________
Councilor Turner Pugh Voting __________
Councilor Woodson Voting __________
_____________________________________________
____________________________________
Tiny B. Washington, Clerk Teresa Pike Tomlinson, Mayor
Attachments
No attachments for this document.